Macy’s (M) faces more challenges with hopes for salvation
Macy’s Inc (M) currently trades at $6.35 and has grown by 12.79% today. Macy’s said Monday that it would furlough the majority of its 125,000-person workforce, but would keep paying health benefits and cover 100% of premiums at least through May. On top of this, Chief Financial Officer Paula Price has decided to leave the struggling retailer as of May 31. The company hasn’t given a reason nor the name of her replacement. Paula Price will stay CFO through May and remain as an advisor to the company through Nov. 2020 “in order to support a well-ordered transition,” according to a press release.
Based on this information, investorsQ rates this stock 4 out of 10. We give it this rating based on current information written in this article. The high forecast for Macy’s Inc is $20.00 and the low is $4.00. Notably, the company’s market cap is $1.95 billion with a 52 week high of $25.98 and a 52 week low of $4.38. Macy’s went up $0.73 from the previous closing price of $5.64. M has changed in price by -19.29 per share in the last 12 months.